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Microcap Report: Largo Resources (V.LGO), Peak Positioning (V.PKK), Carpathian Gold (T.CPN) active

Stockhouse Editorial
0 Comments| May 16, 2014

Largo Resources (TSX:V.LGO, Stock Forum) jumped 18% to 26.5 cents Friday after the Toronto-based firm said it had started warming up the kiln at the Maracas Vanadium project located in Bahia, Brazil.

Largo is engaged in the acquisition, exploration and development of mineral properties in both Brazil and Canada,

According to the news release, the kiln warm-up brings the facility commissioning process to an end and once the kiln has reached design temperature, the company will begin feeding vanadium concentrate through the kiln and downstream facility with vanadium pentoxide production expected to occur shortly thereafter.

Peak Positioning Technologies Inc. (TSX: V.PKK, Stock Forum) soared 166% to 4 cents after the company said it has concluded its due diligence and filed the necessary documents with the TSX Venture exchange related to its planned acquisition of the assets associated with the marketplace.

The company said it has set a closing agenda to close on the transaction on June 13, 2014.

“We view the Quickable as a key component of our strategic plan going forward, particularly for its potential in the fast-growing Chinese mobile e-commerce market,’’ said Peak President and CEO Johnson Joseph in a press release.

The release went out about two minutes before the market closed on Thursday.

Carpathian Gold Inc. (TSX: T.CPN, Stock Forum) eased 17% to 2.5 cents after the company said it has concluded a further extended forbearance and amendment agreement with Macquarie Bank Ltd.  related to a gold project in Brazil.

The company said in a press release the agreement provides for a US$10 million increase in the amount of funds made available under Tranche 3 of the project finance facility entered into between Macquarie and the company’s wholly-owned subsidiary Mineracao Riacho do Machados Ltda., for a total facility of to US$165 million, of which US$157.9 million in currently drawn down.

Carpathian is developing a Brazilian gold project that is 100%-owned by Riacho dos Machados.

Select Canadian Small/Micro-cap Advancers (as of 4:00 PM Eastern)
Peak Positioning Technologies Inc. (V.PKK, Stock Forum) 166.67%
Geomega Resources Inc. (V.GMA, Stock Forum) 17.50%
Balmoral Resources Ltd. (V.BAR, Stock Forum) 9.09%
Ivanhoe Mines Ltd. (T.IVN, Stock Forum) 7.95%
Ballard Power Systems Inc. (T.BLD, Stock Forum) 6.29%
Select Canadian Small/Micro-cap Decliners (as of 4:00 PM Eastern)
SMART Technologies Inc. (T.SMA, Stock Forum) -35.70%
Coalspur Mines Limited (T.CPT, Stock Forum) -21.05%
Just Energy Group Inc. (T.JE, Stock Forum) -16.69%
Caza Oil & Gas, Inc. (T.CAZ, Stock Forum) -7.81%
Augusta Resource Corporation (T.AZC, Stock Forum) -6.23%

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